The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-18
ALL QUIET In CHICAGO.
NO SENSATIONAL DEVELOP.
MENTS IN THE AFFAIRS
or the "Busted" Wheat Clique To-
day-Kershaw Has Got No
More Friends,
AND HIS BUSINESS Is IN A DES.
PERA lE CONDITION.
Phil Armour Proves Himself to be
an Earnest Enemy Of the
Rull Clique.


no new or sensational developments
in the affairs Of the bursted wheat
clique today and none are expected.
Kelshaw has got no more funds and
will not get any more. The whole
affair has now become 60 entangled be.
tween the Fidelity Bank of Cincin-
natl aud the American Exchange Ma
tionaI Bank here, there are now so
many legal complications that what
ever funds should come here would
undoubtedly be swallowed up without
doing anybody in the trade much
good. The affairs of o. J. Ksrehaw &
Go. are 80 desperate that Eggleston,
the special partner whose liabilities as
general partner is claimed, is putting
his property out of his hands. at.
tachmedls and injunctions will I'M
doubtedly be gotten out against him
today. The cash wheat will not come
on the market, 90 that the panic of
prices is over. Armour sent to all
the banks last night Offering
to relieve them today, or at
any moment of whatever cash wheat
they held. They all returned answer
thst they had no wheat for sale and
did not expect to have any. Only one
small lot has been sold 30 far, and
that was gobbled up off the market.
The each price, 73be for July wheat,
showed no peniCky feeling.
The wheat market opened steady at
1910 for July, considerable advance
over the lowest prices on the panic.
The feeling YVES naturally enough ex-
cited, and fluctuation of to &c was
not considered worthy OF an explaus.
ton. Brokers in the pit are careful to
pick the men with whom they do
business, and pag Is and even 4c more
to get the names OF the rich and strong
houses. From 7Sac July wheat went
10 73c. A member of one OF the
clique firms, in a conversation with a
reporter, cleared up some OF the secrets
OF an attempted wheat corner. The
CLIQUE had about $4,000, 900 of it's own
money here with which to margin the
cash wheat and options. There never
was a moment, up to last Monday,
when there was any hitch In monetary
matters. The trouble then arose, prob
ably, from the enormous arrivals
OF cash wheat. 1t hsd not been antici-
psted that the cash wheat receipts in
June would average more than 300 cars
per day, or aggregate more than 5000
for the month. There were 5000 cars
received in the frst ten days, and it
plain that one important calculation
had miscarried. The cash wheat alb
sorbed the clique's money about twice
as fast as was expected. That there
was some uneasinese, however, among
the clique brokers a week ago was evil
denced by their many trips to Cincin.
natl. Green was there last Thursday,
Friday aud Saturday; Dewsr, Ker-
shaw's partner, was there last Friday,
and Johnson, of Rosenfeld & Co., was
there last Saturday and Sunday. On
last Monday, June 18Th, II none OF the
CLIQUE orders were bucket shopped,
they had, besides 16, 900 bushels OF
cash wheat, 2l,009,000 Of unsettled
June options,
Joe Wiltshire got here Monday, and
an interview at the Rlchelieu on that
night was held between Kershaw,
Green, of Green & Co.; john
son, of Rosenfeld & Co., Wiltshire
and Hoyt. 1t is denied that there
were any sensational developments at
that mestirg, butWiltshire is described
as having been little nervous. He
left at $50 o'clock for Cincinnati,
promising that funds would be wired
in the morning. Wiltshire now claims
that there was no such pressure as
Rosenfeld & Go. claim on Tuesday
morning OIL clique business, but that
it came from holdings by Rpsenfeld &
Co. of tliler wheat. The clique
money came from Cleveland, Phila-
delphis, Cincinnati and New York.
The $500, 600 brought here Wednesday
consisted OF four 100000 drafts of the
Fidelity Bank, Of Philadelphia,
and letter of credit for 100000 from
the Fidelity Back OF Cincinnati. The
only money ever taken out of the
town by the clique was $250,000, paid
over by Resented & Go. to wiltshire
June Sd, and before Kershaw had
sold that block of 100000 bushels of
June wheat.
Joe Wiltshire, the clique represen.
tative, is good looking man OF forty
five. He resembles Al Gage good
deal in figure and feature. His left
eye is like Ben Buffers. For five
months Wiltshire was in Libby prison
and was once drawn to be shot. While
talking over his troubles with his
lawyer Wednesday. he said his forty
eight hours experience at Chicago he
found was incomparably worse than
anything he suffered in Libby.
At the present writing wheat for
June is quoted at 7lc; July, 72sc.
July corn, 378c. July oats, 26tc.
Inlv lard Xf Al Inlv ribs. 81 40